Getting IRS Help
When things go pretty bad in paying taxes, getting IRS help is the best option to take. Since paying taxes is a state responsibility of every citizen, failing to oblige to this responsibility means trouble with every country’s internal revenue agency. In the United States, the IRS takes care in tax collection and tax law enforcement. Now in many cases, IRS is being feared by delinquent taxpayers. This is because IRS has authority to send threatening notices and make telephone calls to force people to pay their tax due. IRS can also file liens, or levy people’s assets.
Although the IRS has a bad reputation among delinquent taxpayers, any individual in the states who is having trouble in paying off his taxes can actually apply for tax relief. A tax relief is a tax break and or a write off that reduces the amount of tax due from a taxpayer. This is one of the several programs of the IRS to help delinquent taxpayers. To apply for any tax help, an individual is advised to contact the IRS office to know which of these programs they may be eligible for. Otherwise, the IRS can put a lien against all properties if they don’t.
A taxpayer who owes IRS more than what he can pay for at one time is qualified for IRS installment agreement payment plan. Upon verification by an IRS telephone representative, the taxpayer will be asked to provide information on his monthly income and expense to validate whether he is capable or incapable of paying his monthly tax due. If the taxpayer has a positive monthly cash flow, he will be asked to commit this amount to pay off his old taxes on top of the current one he is paying. Based on the IRS definition of what type of expenses should be prioritized and not prioritized before they can get the monthly cash flow, a taxpayer may choose the best installment plan that will work for him. He can choose the Regular Installment Agreement where monthly payment can be mailed to the IRS office at least a week before the chosen due date; or the Payroll Deduction plan where employers, by the authority given by the employee, will deduct the amount due to IRS. Finally he can choose the bank draft that authorizes his bank to accept a monthly draft from IRS. This is the most favored payment plan.
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